Regulatory Alerts2014-01-08
Added
Report on Credit Cards
The Supervision of Banks Department amends Instruction No. 869 regarding quarterly credit card reports to require a complete separation of reporting for issuance and acquiring activities. The amendments expand reporting requirements to include breakdowns by card type, brand, geographic area, and transaction size, and introduce new operational risk and debt portfolio disclosures. These changes apply to all companies issuing credit cards and take effect on March 31, 2014.
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